Tag Archives: Pre Existing Conditions

Short-Term Health Insurance Can Cover Workers During Job Transitions

Short-Term Health Insurance Can Cover Workers During Job Transitions

Most employees that leave a job also leave their employer-sponsored medical coverage behind. This can be a chancy move, especially if you don’t have other insurance options readily available to you.

If you’ve already left your job, then you’ve most likely already found out that obtaining affordable health insurance isn’t the easiest task when you’re between jobs. COBRA is an option that gives you the right to keep your insurance from your previous employment, but the monthly premiums are usually extremely expensive and something that many simply can’t afford while unemployed.

Temporary insurance, which is a short-term form of health insurance, can be an affordable alternative to the high premiums associated with COBRA. It’s designed to provide a bridge between the gap of finding your next job and leaving your former employer-sponsored plan. Having such a policy can remove the chance of not being protected against unforeseen injury or sickness while you’re between jobs, but pre-existing conditions are usually excluded.

The premiums for short-term coverage policies are relatively much cheaper than those for COBRA, but the cost can still seem expensive for someone without a job. While finances may tempt you to put off insurance until you find another job, you should remember that financial security is the primary reason that individuals purchase short-term health insurance in the first place.

It only takes one unexpected hospital trip or admission to put someone without medical coverage hundreds to thousands of dollars in debt. For example, consider the financial repercussions if you suddenly develop appendicitis and need an emergency appendectomy when you don’t have medical insurance and the average cost of an appendectomy is between $11,000 and $18,000 dollars. Countless financial studies have cited medical bills as one of the leading causes of bankruptcy in America. Having short-term health coverage to carry you until your next job can help avoid the catastrophe of being responsible for the total cost of medical bills from being uninsured.

Aside from the value of financial protection, short-term insurance also helps to avoid having future health insurance claims rejected under Health Insurance Portability and Accountability Act (HIPPAA) laws. In other words, individuals that don’t have a break from credible insurance coverage exceeding 63 days are considered to have maintained a continuous coverage, which means that they won’t be subject to exclusions for pre-existing conditions. And, many approved short-term policies are included in the realm of credible coverage, even if they have exclusions for pre-existing conditions.

Depending on specific state requirements, short-term policies may run for a term of anywhere from 30-days to one year. As far as payment goes, most short-term health insurance plans offer two different options – paying through a monthly installment plan or in a single up-front payment that will cover a specific number of days. Generally, single payment plans are slightly cheaper than monthly payment plans.

Of course, temporary insurance is designed to be just that…a temporary solution to ease your health and financial concerns. It’s not designed to last longer than a year and should never be considered a long-term insurance solution. Once you’ve found another job, you should look into your new employer’s insurance offerings and determine when your new coverage would start if it’s elected.

Short-Term Health Insurance

Know What to Look for When Buying Individual Health Insurance

Know What to Look for When Buying Individual Health Insurance

Most Americans who have health insurance are covered through an employer’s plan. However, some employers do not offer health insurance coverage. If you work for one of these companies, you will need to purchase private individual health insurance.

There are certain advantages to purchasing health coverage in the private market. Instead of choosing from plans pre-selected by an employer, you decide which plan features you want, and pick a plan accordingly. For example, by choosing a plan with a higher deductible, or one that doesn’t cover certain services, you may realize a substantial premium savings each month.

Instead of having your coverage tied to a place of employment, coverage through a private health plan is yours to keep no matter where you work. A health insurer can’t drop you as long as you pay your premiums on time.

But along with these advantages come some potential disadvantages-

• Employer plans provide considerably more coverage than individual plans, even when you are paying the same premium rate. That’s because with an individual policy, a larger percentage of the premium goes to pay for such operational costs as marketing and paying claims.

• A group plan generally must insure all employees and family members, while individual plans can reject applicants who aren’t in perfect health. They can also offer plans that exclude coverage for certain pre-existing conditions.

• In most states, private health insurance plan premiums increase as you age. Initially, you can avoid these rate increases by periodically changing plans, because new rates tend to be lower than renewals. However, as you get older, it will become more difficult to find a company to insure you and individual policies will get more expensive.

If you do need to shop in the private health insurance market, you first need to find a competent insurance agent.  Determining what kind of insurance you need and how much coverage to buy are complex issues. A good agent will help you assess your situation, and work with you to find the right coverage for your specific needs. The key to a successful working relationship with an insurance agent is trust. You should be able to trust your agent’s knowledge, experience and professional judgment, and you should always feel secure that your agent is acting in your best interest. But keep in mind that trust is a two-way street: Your agent also needs to trust you to provide information that is truthful and complete.

If you are comparing several plans, you need to know what to look for before making a decision. When choosing a health plan ask your health insurance agent the following questions:

·   Will the plan cover me for the specific doctor or hospital I would like to use?

·   How does the referral system work?

·   What pre-existing conditions would affect coverage?

·   How will the plan handle care if I (or a family member) am away from home?

·   What is the plan’s monthly premium, and what deductible and coinsurance am I required to pay?

·   Are there other fees, such as copayments and any additional charges if I use providers that are out-of-network?

·   Is there a maximum amount the plan will pay over a year or a lifetime?

·   What types of benefits are specific to this plan?

The purchase of individual health insurance in the private market can seem confusing. Approach its purchase like you would that of any important item-research your options and compare prices, and get the best advice and assistance you can, in this case, the services of Brian Gruss a qualified insurance agent.

Consider Short-Term Health Insurance

Consider Short-Term Health Insurance While Looking for a New Job

If you find yourself in between jobs, you have already discovered that finding affordable health insurance is no easy task. While COBRA provides you the right to continue your previous employer’s coverage, the monthly premiums can be downright unaffordable.

Many people find short-term health insurance, also called temporary insurance, to be an affordable alternative to COBRA. This coverage helps bridge the gap between having an employer-sponsored plan and waiting for your next job.

Leaving a job often means leaving group medical coverage behind, a risky move if you don’t have other insurance options. Short-term insurance policies help remove the gamble, but they typically only protect against unforeseen sickness or injury.  Pre-existing conditions are usually excluded.

Premiums for short-term coverage are usually much cheaper than the premiums paid for COBRA. However, the costs can still seem high for a person who just lost their job. It may be tempting to forgo insurance altogether, but financial security is the main reason people buy short-term health insurance in the first place.

Without coverage, an unexpected trip to the hospital could send a person deep into debt. In fact, several published studies cite medical bills as a leading cause of bankruptcy. Short-term health insurance is designed to cover these catastrophic events.

Beyond financial protection, temporary insurance can also help prevent future insurance claims from being rejected under HIPAA, or Health Insurance Portability and Accountability Act, laws.  If an individual maintains creditable insurance coverage without more than a 63-day break in coverage, they are considered to have maintained continuous coverage, and exclusions for pre-existing conditions would not apply.  This applies even if the short-term policy excluded coverage for those same pre-existing conditions.  Approved short-term insurance policies are considered creditable coverage.

The terms of short-term medical plans usually run from 30 days to a maximum of one year, depending on state requirements. Some policies are designed to provide coverage for a specific number of days with premiums paid upfront, while other policies offer flexible monthly payment plans.

Since temporary insurance is only designed to last a few months, policyholders still need to plan for a long-term solution. If you find a new job and enroll in your new employer’s group insurance plan, make sure to find out when the new coverage starts. While it’s not a long-term solution, people in transition should consider temporary insurance as an interim solution to ease financial and healthcare concerns.

Can You Lower Your Individual Health Insurance Costs?

Can You Lower Your Individual Health Insurance Costs?

Everyone is searching for ways to save money in these difficult economic times.  None of these efforts is more intense than with health insurance.

Consider this example: an employee that has been advised that his premium for dependent coverage will be increasing to more than $1,000 per month! After absorbing this bad news, he looks for some way to lower that cost. After significant research, he discovers that he can get individual coverage for his wife and two children for $350 per month. But should he make the change?

The answer is not always clear cut.  If he can obtain “similar” coverage without pre-existing conditions, a comparable network, and the insurer is a highly rated carrier with a stable history, the answer is probably yes.  The key is whether or not a person can find truly similar coverage and still achieve cost savings.

Historically, true group plans tend to offer more generous benefits than individual plans. For instance, certain benefits (such as maternity) may only be available through group plans in certain states.  Prescription drugs may be covered without spending limits.  Also, in general, group plans offer guaranteed issue coverage for all employees regardless of health status.  Insurers offering individual coverage can decline to issue coverage entirely or exclude coverage for certain conditions indefinitely for any applicant.

Below are some questions to ask yourself before purchasing an individual health policy to replace group coverage for you and/or your dependents:

  1. Will you or your spouse need maternity benefits in either the near or distant future?
  2. Have you carefully compared premiums?  Remember that most premiums for dependent coverage under a group plan are paid pre-tax.  Individual policies you purchase on your own will be paid post-tax, unless you are able to deduct healthcare premiums as a miscellaneous expense.
  3. What are the overall limits of coverage for the individual policy you are considering?
  4. With the new plan, are your doctors and hospitals in network?
  5. Have you researched the insurance company’s track record for raising rates each year?
  6. How will the application for insurance be underwritten?
  7. Are you willing to make the trade-off of accepting a plan with less comprehensive coverage for a lower rate?

If you are currently enrolled in a group health insurance plan, it’s entirely possible that you may not be able to find a better bargain.  Be aware that even if you switch to an individual plan, your premiums more than likely will still increase annually, and possibly even more so than under a group plan.

Remember that it is critical to understand what you are buying with any insurance purchase. At any rate, if you do decide to purchase an individual policy, DO NOT drop your current coverage until you are approved and have thoroughly reviewed your new policy.

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Student Health Advantage is designed to meet the needs of international students involved in long-term educational programs. This plan includes benefits for maternity, mental health and organized sports. After a period of 12 months, pre-existing conditions will be covered as well.

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Temporary Medical Health Insurance

For many people the task of discovering competitively priced temporary medical health insurance can be quite hard. No matter what the reason that you need affordable short- term medical insurance is there are lots of methods of achieve it. Whether you may need it because you are changing jobs, schools, retired, graduating, employed, unemployed, or moving you may be eligible to apply for short- term medical health insurance. What many people want to know is what precisely is short- term medical health insurance. One of the large benefits of short- term medical insurance is the low monthly premium that people have to pay. Short- term medical health insurance is one of the best insurance policies plans those of you that are on the move, with monthly premiums costing less than a small car payment. This sort of health insurance is directed mostly at healthy people, their families, or kids who do not need insurance policy for pre- existing conditions, these types of insurance policy polices can give people a fall back plan if something were to happen to them or a family member. Based on the plan that they pick the benefits can be perfect for them because many of these plans can provide families with up to$ 1. 5- 2 million bucks per person for severe personal harm and health problems.

Short term insurance coverage has grown at a rapid rate in the past couple of years with the quantity of people who find themselves uninsured being near 45 million. It has recently been made essential that those who find themselves uninsured must be insured in the next few years, which has made this type of insurance even more popular with such low insurance premium as well as adequate coverage as long as you are health in the 3 years prior to being covered by the plan. There are many different companies offering budget friendly short- term health insurance for you to pick from and also different plans within each company that you can look for.

One thing to be aware when you are going to look for comparatively cheap short term medical insurance plans is that these plans will not cover you for pre- existing conditions, this is why it is a “short- term” plan, and why the monthly premiums can be so low. If you don’t know what a preexisting condition is, it is any indications, or illnesses that you maybe have had 3 years prior to the start of your cost-efficient short term health insurance coverage, this is why it is very important that when you fill out the application to tell them everything has gone on, if you do have pre- existing conditions this is not the proper type of insurance coverage for you, and although the monthly payments are going to be low, it will not be able to help you if something from the previous months catches up with you and you need serious medical attention. If this were to happen it is seems that the short- term coverage that you may be receiving may be dropped.